The good news for those who don’t have a PAN card
The second budget of the Modi government’s second term was presented on February 1, 2020. The longest budget in the history of the country lasted 2 hours 40 minutes. The public is absorbing its benefits in this budget. It’s not that this budget has made everything difficult. There has also been a slight asana. What has happened is to create a PAN card.
In this budget, Nirmala Sitharaman announced that no separate application should be made to produce PAN card. No form has to be filled. Now you can apply for PANCARD from Aadhaar card. Once this process is smooth, no one will have to rush for PAN card or wait for long. The onsite system will be coming soon for this.
A PAN card is required for filing an income tax return, for bank transactions, for opening an account. If the Income Tax Department is National Securities Depository Limited (NSDL) and
The card is also announced by two agencies called UTI Infrastructure Technology and Services Limited (UTI-ITSL), the PAN card has a unique number of ten characters. This number is the alphabet (A TO Z) number (0 TO 9).
Earlier, the Income Tax Department made some changes to Income Tax 1961 in November 2019. According to this change, a taxpayer can also use the 12 digit Aadhar card number instead of the PAN card in his document. The Income Tax Department has also added a penalty rule of 10 thousand on falsification of the Aadhar card number, failure of bio-metric authentication, Aadhaar in the required transaction and receipt of PAN card. A penalty of up to Rs.10,000
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